Related papers: A Locational Marginal Pricing Mechanism for Uncert…
Optimization models have been broadly used within side the energy industry as useful decision-making systems for scheduling and dispatching electric powered energy resources; this is applied in a system called unit commitment (UC). Unit…
The rapid expansion of low-cost renewable electricity combined with end-use electrification in transport, industry, and buildings offers a promising path to deep decarbonisation. However, aligning variable supply with demand requires…
Inertial localization is particularly valuable in GPS-denied environments such as indoors. However, localization using only Inertial Measurement Units (IMUs) suffers from drift caused by motion-process noise and sensor biases. This paper…
We propose a new Robust Optimization method for the energy offering problem of a price-taker generating company that wants to build offering curves for its generation units, in order to maximize its profit while taking into account the…
This paper explores the critical domain of Revenue Management (RM) within Operations Research (OR), focusing on intricate pricing dynamics. Utilizing Mixed Integer Linear Programming (MILP) models, the study enhances revenue optimization by…
Probabilistic electricity price forecasting (PEPF) is vital for short-term electricity markets, yet the multivariate nature of day-ahead prices - spanning 24 consecutive hours - remains underexplored. At the same time, real-time…
Generally, day-ahead unit commitment (UC) is conducted in a predict-then-optimize process: it starts by predicting the renewable energy source (RES) availability and system reserve requirements; given the predictions, the UC model is then…
Accurate prediction of electricity prices plays an essential role in the electricity market. To reflect the uncertainty of electricity prices, price intervals are predicted. This paper proposes a novel prediction interval construction…
In recent years, remanufacturing of End-of-Life (EOL) products has been adopted by manufacturing sectors as a competent practice to enhance their sustainability and market share. Due to the mass customization of products and high volatility…
Carbon accounting methods for electricity consumption face challenges regarding physical deliverability, double counting, additionality, and impact magnitude. Locational Marginal Emissions (LMEs) show potential to address many of these key…
Optimizing the total cost of power systems is a common tool for network operation and planning. Besides valuable information about how to run and possibly expand a power system, the optimization provides an optimal Locational Marginal Price…
We investigate the profitability and risk of energy storage arbitrage in electricity markets under price uncertainty, exploring both robust and chance-constrained optimization approaches. We analyze various uncertainty representations,…
The accurate prediction of short-term electricity prices is vital for effective trading strategies, power plant scheduling, profit maximisation and efficient system operation. However, uncertainties in supply and demand make such…
It is well-known that a market equilibrium with uniform prices often does not exist in non-convex day-ahead electricity auctions. We consider the case of the non-convex, uniform-price Pan-European day-ahead electricity market "PCR" (Price…
Extreme events jeopardize power network operations, causing beyond-design failures and massive supply interruptions. Existing market designs fail to internalize and systematically assess the risk of extreme and rare events. Efficiently…
The interplay between risk aversion and financial derivatives has received increasing attention since the advent of electricity market liberalization. One important challenge in this context is how to develop economically efficient and…
We study an edge demand response problem where, based on historical edge workload demands, an edge provider needs to dispatch moving computing units, e.g. truck-carried modular data centers, in response to emerging hotspots within service…
A framework is introduced to integrate renewable energy sources (RES) and dynamic pricing capabilities of the smart grid into beamforming designs for coordinated multi-point (CoMP) downlink communication systems. To this end, novel models…
With the fast growth of wind power penetration, power systems need additional flexibility to cope with wind power ramping. Several electricity markets have established requirements for flexible ramping capacity (FRC) reserves. This paper…
Increased uncertainty due to high penetration of renewables imposes significant costs to the system operators. The added costs depend on several factors including market design, performance of renewable generation forecasting and the…